2023 IRS PAYROLL FIGURES
SOCIAL SECURITY WAGE BASE Wages will be taxed up to $160,200 for FICA in year 2023. The 2023 rates for FICA (6.2%) and Medicare (1.45%) remain unchanged. FUNDING 2023 RETIREMENT…
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Review Your 2022 Tax Targets
Now is an excellent time for both employees and employers to make sure they will reach their payroll, tax and financial objectives for calendar year 2022. The following items should…
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2022 IRS PAYROLL FIGURES
SOCIAL SECURITY WAGE BASE Wages will be taxed up to $147,000 for FICA in year 2022. The 2022 rates for FICA (6.2%) and Medicare (1.45%) remain unchanged. FUNDING 2022 RETIREMENT…
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Supersize with Roths
If your employer’s 401(k) or 403(b) plan permits employees to contribute “after-tax” to a “Roth” account, you should seriously consider contributing part or all of your “elective deferrals” to your…
Read More AVOID DOL PENALTIES – 401(k) DEPOSIT RULES
The U.S. Department of Labor (DOL) regulates the timing of an employer’s payment of 401(k), 403(b) and SIMPLE-IRA retirement plan employee “elective deferrals.” If payments are not timely made, costly…
Read More SMALL EMPLOYER HRA BASICS
Effective January 1, 2017, small employers (less than 50 employees) can offer employees reimbursement of medical expenses to include personal health insurance premiums on a tax-free basis. These new programs…
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Save For College – Save Tax!
As employers look for low-cost and innovative employee benefit plans to retain and recruit employees in our current competitive job marketplace, AccuPay and the Indiana College Choice 529 Program have…
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